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The aftermath of the Swiss currency announcement has been swift and merciless. Among the most prominent victims is the largest U.S. retail foreign exchange broker, FXCM (NYSE: FXCM). Shares of the company are down more than 91% in premarket hours on news the firm suffered massive losses and has seen its equity erased. Broker Gain Capital Holdings Inc. (NYSE: GCAP) was down as much as 20% this morning. The news is even worse for smaller trading houses. Global Brokers NZ, located in New Zealand, has failed and Alpari U.K. is allegedly insolvent, according to MarketWatch. They likely will not be the first or the last to go.